Eqova has an agreement with Nirogi Charitable and Medical Research Trust (Society) in the form of an exclusive and long-term Medical Services Agreement, under which it has the rightto aid development of and provide medical services to a 400 bed hospital to be built on 2.1 acres of Society's land situated at Patparganj, Delhi.
The Company has right to appoint majority of directors on the Board of Eqova and now holds 60% of the paid up equity share capital of Eqova. Further, the Company and the remaining shareholders of Eqova have certain call and put option for the balance 40% equity stake of Eqova, as per terms of the SHA executed between Eqova, Company and shareholders of Eqova.
